Joint Committee Of The ESAs Propose Draft RTS To Clarify Application Of The KID To Investment Funds

Author:Mr Abdul Khan
Profession:Orrick
 
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On March 8, the Joint Committee of the European Supervisory Authorities (ESAs) published a letter that had been sent to the European Commission proposing draft regulatory technical standards (RTS) amending Commission Delegated Regulation (EU) 2017/653 to clarify the application of the key information document (KID) to multi-option products (MOPs).

MOPs are Undertakings for Collective Investments in Transferable Securities (UCITS) and certain non-UCITS funds offered as underlying investment options to a packaged retail and insurance-based investment product (PRIIP). In February 2019, the ESAs identified the draft RTS are required following a decision during the trialogue on the cross-border distribution of investment funds that will extend the time period for which MOPs are excused from preparing a PRIIPs KID from December 31, 2019 until...

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